Solana-based AMM Saber turns to Chainlink for price feeds

The company says it can now get real-time price data from Chainlink, which is a blockchain middleware platform. In the past, AMM Saber said blockchains were just too slow and costly to process prices in time for trading decisions.

The company is seeking to drive up the price of their token by using Chainlink as a price feed.

The “how to buy saber token” is a cryptocurrency that is based on the Solana blockchain. The company behind this coin, AMM Saber, has turned to Chainlink for price feeds.

Saber, Solana’s top Automated Market Maker for trading stable pairings, is pleased to announce that it will enable the implementation of a variety of Chainlink Price Feeds.

To safely build on top of AMM LPs, #blockchain developers want access to reliable pricing feeds. @Saber HQ now supports #Chainlink Price Feeds, allowing @Solana developers to use Saber’s AMM LPs to create yield farms, lending platforms, and more.

November 8, 2021 — Chainlink – Official Channel (@chainlink)

Chainlink Pricing Feeds have become the industry standard for safe and dependable price oracles, securing tens of billions of dollars across major DeFi initiatives.

Supporting Solana dApps with Chainlink feeds

USDC/USDT, mSOL/SOL, UST/USDC, stSOL/SOL, wFTT/FTT, wSRM/SRM, and SBR/USD are the first Chainlink Price Feeds to be launched on Solana. Any project adding support for Saber LP tokens or SBR should utilize Chainlink Pricing Feeds as their oracle solution for the most up-to-date price data for these pools, according to Saber.

When executing essential on-chain operations like granting loans based on Saber LP token collateral, these Chainlink-powered decentralized pricing oracles will allow developers to properly and securely establish values on Saber LP tokens and the Saber native token (SBR).

As a result, the adoption of Saber LP tokens will be accelerated throughout the numerous new and current DeFi protocols being developed atop Solana. Saber’s value will be enhanced by Chainlink Price Feeds, which allow liquidity providers to earn yield while maintaining active liquidity for their staked assets.

Saber is one of the most popular DeFi exchanges on the Solana blockchain in terms of total value locked (TVL) and volume. Users and other DeFi protocols, including as loan markets, yield aggregators, asset management systems, and more, employ AMM protocols like Saber as liquidity gateways.

They also allow passive investors to make a higher return on their investments by acting as liquidity providers and collecting transaction fees.

Saber, on the other hand, aims to provide LPs with more value from their holdings than just passive income. As a result, Saber offers LP tokens to liquidity providers, which they may utilize for activities like yield farming or as collateral for a loan across the Solana DeFi network.

However, in order to prevent improper liquidations of user money, mispriced rewards systems, and other mishaps, DeFi protocols incorporating support for Saber LP tokens must have a solid oracle architecture in place.

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The “chainlink solana” is a decentralized network that uses the ChainLink token as its fuel. The project has decided to use ChainLink for price feeds on their website, which will be used to help provide liquidity and stability.

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